are overweight by the cost of doing so. here is what is essential for the federal reserve for our modern policy -- sound money. we need some money. we need to know that our currency is going to be reliable. that the dollars you have will buy a dollar's worth of good tomorrow and 10 years from tomorrow. we need to know that our currency is going to be reliable. that the dollars you have will buy a dollar's worth of good tomorrow and 10 years from tomorrow. when the federal government and the federal reserve engages in these kinds of policies, they have to be mindful of making sure our prices are stable. there are a lot of things the government can do to hurt people. one of the things government can do is to debate the debase our own currency. if we have an inflation problem, we do not have a right now but

the fear with this kind of monetary policy is down the road, we will lose credibility under our currency. we will have inflation down the road. here's what happens when that happens -- you lose your purchasing power. if you are living on a fixed income, if you retire -- i just talked to a couple of retired teachers. they retired up in the bay. when they set the retirement up, my guess is they have a fixed income that they based their living standard on. they have a budget. they are in their golden years and going like theory here is what happens when you have inflationary -- their golden years and enjoying life. this inflation wiped out a living standard. the dollar's ups and retirement on to not by as much as you thought it would when you based your retirement on them. that is something the government and only the government can do. so it has to do it well. we need to make to the federal government, the one agency in charge of that, has to mind stability.

a necessary precondition for economic growth and for people to take risks and look of that investment horizon, they need to know their money is still going to be good. the price is going to be there. i talked to a woman who takes cherries and jalapenos and makes this great jelly. she is looking to start her business back up. if you are going to buy a kitchen and start doing all this, you need to know that you can sell your goods and a price for you can recuperate your costs and profit. you are not going to take all this risk unless you know it is one worth taking and its currency is undermined and the government keeps printing and regulating like it is, that is a huge risk. one of the worst things hitting

our economy today is uncertainty. massive tax increases looming on the horizon. huge defense cuts. looming right on our horizon in january. they have the federal reserve, of which i believe is doing more harm than good if they enter into quantitative easing around three, that produces more uncertainty. the markets are uncertain. it might show a positive affect in the near term. but not in the long term, i fear. what we want is a monetary policy the goal of the federal reserve to focus on sound money,, price stability. the fed takes their eye off that ball, we could of the worst of both girls. high unemployment and inflation. do you remember the jimmy carter years? we do not want to repeat the

jimmy carter years. [applause] show of hands. i'm looking for a young lady. how about this young lady right here? what is that, a stop watch? >> no, a gift from my daughter. there is a doctor in a pakistani jail right now and he is rotting in a jail right now. this is wrong. what can you do about it? >> this was a doctor doing dna testing to find strands from the osama bin laden family.

let me be careful in my words but really clear. these leaks on national security coming from the white house undermined the men and women who put risk on their lives for us. this is not helpful. [applause] i suppose it could have served some short-term political gain or shown some nice story but let's ask this question -- if you are a doctor in pakistan and the american government asks you to help of the future and you see that, but do you think you are going to do?

are we going to get people to help us in the war on terror if this is how we treat our allies? these leaks are not helpful. they are counter productive. in mitt romney administration will not make those kind of mistakes. mitt romney administration believes in peace through strength, supporting our allies, and we have tough times ahead of us. look at what's going on with israel and iran right now. look at the danger that brings,

not just us, but the world. if we are trying to advance our national security interests and unless people of the difficult corners of this world to help us and we keep leaking about what they're doing, they will stop helping us. there are a lot of people who are not from this country who believe it into this country. you believe that a strong america as the best thing for their peace and security because we stand for democracy and freedom. these debt for the values of free enterprise, and of his rights, -- we stand for the ballets of free enterprise, womens rights -- if america stops doing that, they will have less support for their freedom. it is a shame this man is wafting in jail, as you say. we have to treat our allies better than this and we will. thank you, everybody. that is the last one i have time to do. thank you so much for coming out. we need your help. i really appreciate everybody.

thanks so much. [applause] [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2012]

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♪ >> president obama made a

campaign stop in nevada last night. president told the crowd that he will bring the culprits to justice in libya. this is 40 minutes. [cheers and applause][cheers and applause] >> thank you. thank you. thank you so much. could everybody please give a great round of applause for the wonderful introduction? [applause] i also want to say, it is good to see your once and next congresswoman.

[applause] and it is so good to see all of you. i love you back. thank you. i want to begin -- [chanting "four more years"] thank you. i want to begin tonight by just saying a few words about a tough day that we had today. we -- we lost four americans last night who were killed when they were attacked at a

diplomatic post in libya. they were serving overseas on our behalf, despite the dangers, despite the risks, to help one of the world's youngest democracies get on its feet. they were working for the values that we hold dear as americans, and as americans we stand united, all of us, in gratitude for their service. we are mindful of their sacrifice and we want to send out our heartfelt prayer is to their loved ones who grieve today. [applause] it is a reminder that the freedoms we enjoy, sometimes even the freedoms we take for granted, they are only

sustained because there are people like those who were killed, who were willing to stand up for those freedoms. who were willing to fight for those freedoms. and in some cases, to lay down their lives for those freedoms. tonight, let's think of them and thank them. as for the ones we lost last night, i want to assure you, we will bring the killers to justice. [applause] and we want to send a message around the world to anybody who would do us harm no act of violence will shake the resolve of the united states of america. [cheers and applause]

we will not be deterred. we will keep going. we will keep going because the world needs us. we are the one indispensable power in the world. if we are going to see security for our children and grandchildren, that means that this generation of americans has to lead. we are going to have to keep doing the work. no matter how hard it seems sometimes. that is what i want to talk to you about here today. we have got work to do overseas. we have also got to do work here at home. we have got to do some work right here in the great state of nevada. [cheers and applause] because nevada is a battleground state, you are aware that we

have an election going on. [applause] unless you have accidentally stumbled in here looking for a convention of podiatrists, then you have been paying some attention to the election. both parties just came out with their conventions. each side made its case. now, you are facing a very big choice. our vision, what we are fighting for, the reason all of you are here today is because we believe in the basic bargain that built the largest middle- class and the strongest economy

the world has ever known. [cheers and applause] it is a bargain that says hard work will pay off, that, if you act responsibly, you wibe rewarded. everybody gets a fair shot. everybody gets their fair share. everybody plays by the same roles, main street to wall street, in washington d.c. it does not matter where you come from, what you look like, what your last name is. that is what we believe in. [cheers and applause] and that basic bargain is why i ran for president in the first place, and why so many of you worked hard to get me elected.

we have seen for a decade, too many jobs sent overseas. we have seen too many families struggling as costs were going up but paychecks were not going up. people racking up more debt just to pay mortgage or tuition or put gas in the car or food on the table. these misguided policies led to the biggest recession we have seen since the great depression. millions of innocent americans, especially here in nevada, have lost their jobs or homes or savings. we are still fighting to recover from that. nevada got hit harder, but here is the thing, i do not think the best solutions for today's challenges are old sales pitches. that is what my opponent and the other side is selling. you guys heard it. you may have watched the

convention, but if you did not, let me summarize. what they said was, we want to give you more tax cuts, the specially tilted toward the wealthy, andverything will be ok. this is their prescription for everything -- tax cuts in good times, tax cuts in bad times. tax cuts when we are at peace. tax cuts when we are at war. tax cuts to up to lose those few extra pounds. tax cuts to give your love life that extra kick. now, listen -- i have cut taxes. i cut them for folks who needed them. [cheers and applause] we cut taxes for middle-class

families. we cut taxes for small business owners. i sure do not believe that another round of tax breaks for millionaires will bring good jobs back to our shores. i do not believe that it will bring down our deficit. i do not think that firing teachers or kicking students out of financial aid will grow our economy. i do not think that will haul us compete when china is churning out more engineers and scientists. after all we have been through, does anybody actually believe that rolling back regulations on wall street is somehow going to help small business here in las vegas? help the laid-off construction worker here in las vegas to get back to work? we tried that. we tried that for a long time. for eight years. what happened?

it did not work. we are not going to try something that we know did not work, that got us into this mess in the first place. we are not going back. we are going forward. we're going forward. we are going forward, nevada, and that is why i am running for another term as president. [applause] [chanting "four more years"} we do not believe that the answer to our challenges is to tell folks, you are on your own. hope you do not get sick. if you lose your home, tough luck. you are on your own. if you cannot afford college,

borrow money from your parents. we do not believe in that. we believe we are all on it together. if we do not believe in an economy that grows from the top down. if we believe in an economy that grows in the middle out and the bottom up, giving everybody a chance, everybody an opportunity. open up the door for people so that they can work hard and do right by their families and do right by themselves. that is what we believe. that is why i am running for a second term as president. that is why we are moving forward together, not on our own. [cheers and applause] now, some of you heard me at the convention. i will not pretend that what i am offering is the easiest task. i never said that. in 2008, i did not say it was going to be easy. as president clinton reminded

you last week, it will take more than a few years to resolve challenges that have been building up over decades. [applause] but we have made progress. every time i meet a child whose parents tell me, you know what, she was sick but you help her get insurance. every time i meet somebody who says, you know what, we were able to refinance our home. every time i meet a spouse who says, you promised to bring my husband or wife back from iraq. they are back now.

every time i see that happen i am reminded of the progress that we made. we have a long way to go, but let me tell you -- when we hear folks say this nation is in decline, they are dead wrong. we have got the best workers in the world. [applause] some of them right here in las vegas. we have got the best entrepreneurs in the world, some of them right here in at las vegas. we have the best scientists, the best researchers, the best colleges, the best universities. we have this incredible diversity that you see all across the country. people from every background, bound together by this faith that we have in this nation. there is not another country on earth that would not trade places with the united states. our problems can be solved and our challenges can be met. i am asking you to choose that view. i am asking you to rally around the goals i laid out at the convention, creating manufacturing jobs and new

energy sources, improving our education system, to straighten out our deficit and turn the page on a decade of war. we can do that in the next four years. that is why i am running for president of the united states. [cheers and applause] [chanting "four more years"] now, just in case a few of you were not convinced yet, or i need some of you to do some convincing -- let me break down exactly what i am talking about when i talk about the goals of this country. i have a plan to export more

products and outsource fewer jobs. after a decade of decline, this country has created over half a million new manufacturing jobs. we brought back a dying auto industry that is back on top of the world. now we have the choice. we can keep giving tax breaks to companies shipping jobs overseas, or we can reward companies investing right here in the united states of america, hiring american workers to create good-paying jobs right here.

that is what we can do. we can help factories and small businesses double exports. we can create 1 million manufacturing jobs in the next four years. we can continue the progress we made in expanding that is having a huge impact here in vegas. you can make it happen. we will make it happen. it is up to you. second, i have a plan to control more of our own energy. after 30 years of inaction, we raced to standards. by the middle of the next decade, your cars and trucks will go twice as far on a gallon of gas. that will save you money. we have doubled the amount of renewable energy being generated, including right here

in nevada. solar panels all across the state. [applause] not only are we generating energy that we need to grow, we can also employ thousands of americans, thousands of americans for jobs building wind turbines, solar panels, and long-lasting batteries. today, the united states is less dependent on foreign oil than any time in two decades. you cannot reverse that progress, or we can build off of it. we can keep investing in wind and solar and clean coal. we can harvest new biofuels. our construction workers can build homes and strategies that waste less energy and retrofit old buildings. put them back to work in a way that helps to free ourselves from dependence on foreign oil. we can develop a 100-year supply of natural gas right beneath our feet. if you choose it, we can cut our oil imports in half by 2020. we can support more than 600,000 jobs in natural gas alone. but you can also choose the alternative, to let the oil companies run our energy plants. [crowd boos]

but that is moving backwards, and what do you want to do? >> forward. >> i want to give americans what they need to compete. education was the gateway of opportunity for me. it was the gateway for michelle. it was the gateway for many of you. it is the gateway to a middle- class life. because of the work we did, students in nevada and across the country are paying less today. they were wasting billions of dollars on lenders -- we cut out the middleman to give money directly to students. [applause] so now you have got a choice. you can take my opponent's advice, which is to gut education.

do not boo -- vote. [applause] or we can decide as the united states of america, no child should have a dream deferred because of an overcrowded classroom. last time i was herein vegas, we heard about a class is that had 42 kids. kids sitting on the floor. old, worn-out textbooks. no family should have to set aside a college acceptance letter because they do not have the money. no company should have to look for workers in china because they could not find the right skilled workers here at home. that is not who we are. that is not how we move forward. [applause] nevada, i am asking you to help

recruit 100,000 math and science teachers in the next 10 years, improved early childhood education, give 2 million workers the chance to study at community colleges to give them the skills they need for a jobs hiring right now, help to cut in half the growth of tuition costs. we can meet that goal. you can choose that future for america. not just for yourself, but for your kids and your grandkids. that is what we mean when we say you should vote. [applause] nevada, we have to reduce our deficit. that is important. but we have to do it in a way that does not stick it to the middle class. independent analysis shows that my plan for reducing the deficit would cut it by $4 trillion. i have worked with republicans

in congress to cut $1 trillion worth of spending three and i am willing to do more. i want to reform the tax code so it is fair and simple. [applause] but i also want to ask the wealthiest households, including my own, to pay a little bit more on income over $250,000. [applause] the same way we had when bill clinton was president. the same way we had when we created 23 million new jobs, replaced the deficit with a surplus, created a whole lot of millionaires -- that is the way we move forward. [applause] now, to be fair the other side has a plan, too. the problem is, as president clinton pointed out, they do not have any arithmetic in it.

[applause] the math does not add up. if you think we can somehow lower our deficit by spending trillions more on new tax breaks to the wealthy, when you try to pay for $5 trillion in new tax cuts without raising taxes on middle-class families, or add $2 trillion to military spending that our joint chiefs do not say will make a safer without increasing the deficit -- you get that error message on your calculator. no amount of extra credit will make that math work. i refuse to ask middle-class families like yours to pay more so that millionaires and billionaires can pay less. i refuse to ask students to pay more for college so i can pay less. i refuse to take children out

of head start programs or take away health insurance for millions of americans who are poor or elderly or disabled just so if you can pay less. i do not believe in that. that is not who we are. that is not how we will grow our economy. i do not think the answer for those in nevada whose homes are under water is to do nothing, to let it bottom out. my administration has helped more than 1 million responsible homeowners refinance the mortgage, and i am running to give more the chance to refinance and save $3,000 a year and maybe start building up. that will strengthen the housing market across the board in the state. by the way, i will never turn medicare into a voucher.

no american should have to spend their golden years fighting insurance companies. you should retire with the dignity and respect you have earned. we will break down the costs, and not dump the costs down on seniors. we will keep the promise of social security by taking responsible steps to strengthen it. not by turning it over to wall street like a stack of poker chips. that is the choice to face this fall. that is what we mean when we talk about moving forward. now, rebuilding our economy -- as we were reminded today, our prosperity at home is linked to policies abroad. four years ago, i promise to end the war in iraq, and we did. [applause] i said we would wind down the

war in afghanistan, and we are. [applause] the day after 9/11, we are reminded that a new tower rises above the new york skyline. al qaeda is on the path to defeat and bin laden is dead. [applause] we still face threats in this world. we have to remain vigilant. that is why we will be relentless in our pursuit of those who attacked us yesterday. that is also why as long as i am commander in chief, we will sustain the strongest military the world has ever known. [applause] when our troops come home and take off their uniforms, we will serve them as well as they served us, because nobody who fought for america should ever have to fight for a job when

they come home. that is a solemn commitment that we make. as we are winding down these wars, we could use some of the money we are no longer spending on were to pay down our debt and put more people back to work, rebuilding homes and schools and roads. after a decade at war, it is time to do some nation-building right here in the united states. [applause] so let me say this -- let me say this. we can get all this done. i have no doubts in my mind we can get it done. the power to do it, though, is in your hands. i told you at the convention, the election four years ago was not about me. it was that you and the changes you imagine for this country.

you are the reason seniors across nevada save an average of nearly $600 last year on their medicine because of health care reform. you are the reason thousands of students at unlv have more help paying for college this year. you are the reason to grandparents in reno could refinance their mortgage and keep the american dream. you are the reason a young immigrant who grew up here and went to school here and pledges allegiance to our flag will no longer be deported from the only country he has ever known. [cheers and applause] you are the reason we ended don't ask don't tell. you are the reason they can come back and hear those two amazing words, welcome home. that is why we cannot turn back now.

if you buy into all the cynicism being fed to you through negative ads, you know what, change will not happen if he stop fighting for it. you know who will fill the void -- the lobbyists, the special interests, the folks writing $10 million checks to run these negative adds. the people trying to make it harder for you to vote. politicians in washington who want to decide who you can marry, who want to decide, for women, what their health care choices should be when women are perfectly capable of making those decisions themselves. [applause] we cannot let that happen, nevada. we have the power to make sure

it does not happen, and i need your help. we have come too far to turn back now. we have more good jobs to create. we have got homegrown energy to generate. we have got more young people to send to college and more good schools to fill. more teachers to hire. we have more veterans to take care of. we have more doors of opportunity to open to everybody, black, white, hispanic, asian, native american, gay, straight, anybody willing to work hard and the leads in america. we have got to open those doors of opportunity for them. if you are willing to work with me and fight for may and knock on some doors for me and make phone calls with me, if you vote in november, we will win. we will win nevada. we will win this election.

we will finish what we started. again, we will remind the world what we are the greatest nation on earth. god bless you. god bless the united states of america. [cheers and applause] ♪ ♪

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>> the house returns at 10 p.m. a bill to end the energy department loan guarantee program. the senate gavel's and the and is scheduled to work on a jobs bill for veterans. at 10:00 on c-span 3, the head of the consumer financial protection bureau will give a progress report at a senate banking committee hearing. banking committee hearing.